11 de agosto de 2016 / 13:57 / en un año

Brazil's Oi sees lower cash burn rate this quarter

SAO PAULO, Aug 11 (Reuters) - Oi SA is expected to burn less cash this quarter after a June petition to win court protection from creditors is sparing the company from paying debts temporarily, Chief Executive Officer Marco Schroeder said on Thursday.

In a conference call to discuss quarterly results, Schroeder said Oi’s cash position fell to 5 billion reais last quarter chiefly due to financial expenses. Cash burn ratios remained high during the second quarter as the company had to pay a last installment on rights to operate 3G wireless licenses.

$1 = 3.1332 Brazilian reais Reporting by Ana Mano Editing by W Simon

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below